209-227 W 3Rd Avenue

Escondido, CA 92025 View Map $4,460,000 Ask a Question
Sold On9/11/2023
Robert & Joy Aumann

Robert & Joy Aumann

(858) 752-8730

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FOR SALE: 209-227 W 3Rd Avenue Escondido CA 92025 | 230003308 |$4,460,000| Call Rob (858) 752-8730 for a TOUR!

Status: Sold
Property Type:Com-Res Income
MLS #:230003308
Date Sold:9/11/2023
County:San Diego

Listing Agent/Office

Agent:Josh Browar
Agent Phone:858-414-4398
Office:The Browar Group
We are pleased to offer The Grand @ City Center apartments a Value-Add deal located in the heart of Escondido. The property is situated on two adjacent parcels on the corner of S Maple Street and W 3rd Avenue with close proximity to downtown Escondido. The opportunity contains a very dynamic unit mix of a 3br/1ba SFR, 6-1br/1ba detached cottages (with private yards), one 2br/1ba apartment, five 1br/1ba apartments and five studio apartments. Other amenities include six single car garages (perfect for an ADU conversion) and laundry facilities. The property offers a very quaint courtyard style atmosphere as current ownership has implemented many recent capital improvements (see OM). There is also significant rental upside potential. *** There is new loan on the property with Chase Bank that has a current loan balance of $2,225,000. The loan has an interest rate of 3.37% and has interest only payments through 10/1/2024. Then it converts to a fixed rate (fully amortized) of 3.37% until 10/1/2026.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change

Community Information

Address:209-227 W 3Rd Avenue, Escondido, CA 92025
County:San Diego
Area (MLS Code):North County
Zip Code:92025

Features / Amenities

Features: Remarks
Heating: Wall


Bedroom 2
Bedroom 3
Bedroom 4
Bedroom 5
Breakfast Area
Dining Room
Living Room
Family Room
Extra Room 1
Extra Room 2
Extra Room 3

Property Features

Tax and Financial Info

Gross Sched Income Projected: $390, 780
Other Income Projected: $14, 520
Cap Rate Actual: $4.80
Cap Rate Projected: $6.10
Actual Operating Expense: $122, 149
Actual Gross Schd Income: $345, 108
Terms: Assumable 1st, Cash, Cash to Existing Loan



Walk Score ®
Transit Score ®
Bike Score ®
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Listing information last updated on September 27, 2023 6:45 AM EST.